Two Super Cheap Cryptos – Freicoin (FRC) and Feathercoin (FTC)

laowai80

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Quote from: dego on December 02, 2013, 06:27:52 AM

Western Union? Bank Transfer? Are you serious? Ever heard of FEES?

As if to convert fiat to cryptos, send it to Kenia and in Kenia back from cryptos to fiat there is no fees.
Just don't tell me you can live on FRC in Kenia, or even Bitcoin for that matter, or any other part of world

Yeah, I heard about folks who tried to live solely on bitcoin for 100 days, well, at this time it's not so easy, so you can't do without fiat, which incurs fees to convert back and forth.

dego

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Western Union? Bank Transfer? Are you serious? Ever heard of FEES?

GigaCoin

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Giga

Quote from: dego on December 02, 2013, 04:52:54 AM

Quote from: laowai80 on December 02, 2013, 04:20:32 AM

Quote from: dego on November 28, 2013, 10:06:59 AM

But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

If you want a coin with demurrage, stay in fiat. Less trouble, but same effect.

You slightly ignore the benefits of virtual currencies.... How do you send FIAT to Kenya for example? In a letter?

just send via bank or western union.

laowai80

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Quote from: dego on December 02, 2013, 04:52:54 AM

You slightly ignore the benefits of virtual currencies.... How do you send FIAT to Kenya for example? In a letter?

Yeah, a coin with a demurrage fee is just that, a currency, no store of value function. In that aspect it's no different than any modern fiat currency. Just use Western Union or whatever to send to Kenia if you have to. A coin with no demurrage also has an important money function as a store of value + all the same benefits as a coin with demurrage. That's why I think coins with demurrage are doomed to fail, they are crippled compared to their competitors. It's like a person who has only one leg runs in a race with a person with two legs.

dego

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Quote from: laowai80 on December 02, 2013, 04:20:32 AM

Quote from: dego on November 28, 2013, 10:06:59 AM

But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

If you want a coin with demurrage, stay in fiat. Less trouble, but same effect.

You slightly ignore the benefits of virtual currencies.... How do you send FIAT to Kenya for example? In a letter?

laowai80

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Quote from: dego on November 28, 2013, 10:06:59 AM

But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

If you want a coin with demurrage, stay in fiat. Less trouble, but same effect.

dego

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Quote from: PenAndPaper on November 28, 2013, 10:18:43 AM

Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Looks like you haven't check LTC price lately. You 'll be surprised Tongue

FRC are still quite cheap. Far from a LTC level...

PenAndPaper

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Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Looks like you haven't check LTC price lately. You 'll be surprised Tongue

meta.p02

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Quote from: dego on November 28, 2013, 10:06:59 AM

But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

What is the rationale behind a 5% demurrage rate, rather than, say, 1.1%, 2% or something else?

defaced

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Franko is Freedom

Quote from: dego on November 28, 2013, 10:06:59 AM

But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

Yea but when you look at the coins that are out performing FRC, they are doing the exact opposite of that. They are doing things like 1% decrease in coin production per week, rapid coin halving, and super inflation.

I'm not trying to say that those tactics are bad, but merely the reason why FRC will only attract a certain kind of person. One driven more be principle then greed.

dego

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But demurrage is quite mild. Its 5% per year. So the current rise is far higher than what demurrage eats..

defaced

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Franko is Freedom

Quote from: smoothie on November 28, 2013, 08:38:29 AM

Quote from: dego on November 28, 2013, 07:59:47 AM

Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Sure. But if you look at marketcap of FRC its far below other coins (see: http://coinmarketcap.com/) although I think FRC offers some genuine ideas and potential, at least more than it is the case with Protoshares, Ticekts and all the other bizarre coins.

Imagine, if there will be communities who would adopt FRC to use it as stimulating mean in local economies...

Doesn't FRC use Demurrage? Forcing you to want to spend the coins.

Yes it does.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: dego on November 28, 2013, 07:59:47 AM

Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Sure. But if you look at marketcap of FRC its far below other coins (see: http://coinmarketcap.com/) although I think FRC offers some genuine ideas and potential, at least more than it is the case with Protoshares, Ticekts and all the other bizarre coins.

Imagine, if there will be communities who would adopt FRC to use it as stimulating mean in local economies...

Doesn't FRC use Demurrage? Forcing you to want to spend the coins.

defaced

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Franko is Freedom

Quote from: dego on November 28, 2013, 07:59:47 AM

Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Sure. But if you look at marketcap of FRC its far below other coins (see: http://coinmarketcap.com/) although I think FRC offers some genuine ideas and potential, at least more than it is the case with Protoshares, Ticekts and all the other bizarre coins.

Imagine, if there will be communities who would adopt FRC to use it as stimulating mean in local economies...

In a community driven by greed FRC doesnt benefit early adopters enough for anyone to care.

dego

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Quote from: smoothie on November 28, 2013, 07:45:42 AM

Just because it is cheap doesn't make it worth buying.

Sure. But if you look at marketcap of FRC its far below other coins (see: http://coinmarketcap.com/) although I think FRC offers some genuine ideas and potential, at least more than it is the case with Protoshares, Ticekts and all the other bizarre coins.

Imagine, if there will be communities who would adopt FRC to use it as stimulating mean in local economies...

smoothie

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LEALANA Bitcoin Grim Reaper

Just because it is cheap doesn't make it worth buying.

dego

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Merit: 250

See the charts here: http://www.thebitcoinchannel.com/archives/28004

Why is that? Reasons?

Topic: Two Super Cheap Cryptos – Freicoin (FRC) and Feathercoin (FTC) (Read 1455 times)